Laurentian Bank of Canada Announces Closing of Over-Allotment Option in Connection With Recent Common Share Offering

MONTREAL, QUEBEC--(Marketwired - Jan. 18, 2018) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Laurentian Bank of Canada (TSX:LB) (the "Bank") announces today that it has issued an additional 342,300 common shares (the "Over-Allotment Shares") at $54.80 per Over-Allotment Share pursuant to the exercise of the over-allotment option (the "Over-Allotment Option") granted to the syndicate of underwriters led by TD Securities Inc., BMO Capital Markets and CIBC Capital Markets, as joint bookrunners, in connection with its recently completed common share offering (the "Offering") which closed on January 16, 2018.

After taking into account the Over-Allotment Option, the Bank will have raised aggregate gross proceeds of $143,811,640 under the Offering by issuing 2,624,300 common shares at a price of $54.80 per common share. The terms of the Over-Allotment Option are more particularly described in the Bank's prospectus supplement dated January 9, 2018 which is available under the Bank's profile on SEDAR at www.sedar.com.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act"), as amended, and may not be offered, sold or delivered, directly or indirectly, in the United States, its territories, its possessions and other areas subject to its jurisdiction or to, of for the account or benefit of, a U.S. person (as such term is defined in the U.S. Securities Act), absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Laurentian Bank Financial Group

Founded in 1846, Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred as Laurentian Bank Financial Group (the "Group" or the "Bank").

With more than 3,700 employees guided by the values of proximity, simplicity and honesty, the Group provides a broad range of advice-based solutions and services to its customers through its businesses: Retail Services, Business Services, B2B Bank and Capital Markets. The Group - with pan-Canadian activities and a presence in the United States - is an important player in numerous market segments.